Haven Lock Net Worth 2022

Haven Lock is an electronic door lock. It is manufactured in Franklin, Tennessee. It includes an app that can be used to open and lock the lock with a foot pedal or a key fob. The product is also capable of being remotely opened by a phone. In addition, it features rubber and plastic gaskets.

Haven Lock was launched in 2014. It is a product designed by US Special Ops veterans. Alex Bertelli and Clay Banks are the co-founders of the company. They appeared on Shark Tank season 7 episode 9 to seek funding for a 6% equity stake in their firm. During their appearance, the entrepreneurs mentioned that they had already sold $250,000 in products. Despite this, they did not receive any investment from the sharks.

Although they received a commitment from Terminix to distribute the products in eleven cities, the company still has a long way to go to reach its full potential. The company currently generates $4 million in annual sales. As of 2022, the business is still in operation. There are two varieties of Haven: the Mech model and the Connect model. Each model offers different features.

HavenLock is an innovative and unique product. It features a wedge that can be controlled by a key fob or an app. The lock is 10 times stronger than a standard deadbolt. It is made of a mix of components, including injection molded DelrinTM, industrial grade nylon, and a 30″ steel baseplate.

Haven Lock is still generating revenue after its appearance on Shark Tank. As of 2022, the company is worth $8 million. Most of its revenues come from its website. However, it has also been able to increase its sales after its appearance on Shark Tank. Since its appearance, the company has signed a contract with Terminix to supply its products to their customers in 11 cities. This agreement will eventually cover the entire nation.

Haven Lock isn’t as good as it was before its appearance on Shark Tank. The company has a large amount of debt and not enough margins. On the other hand, the founders of the company are happy with the results so far. But they want to get help from Shark to scale their business. Currently, the firm is focused on improving the quality of its products and expanding its reach.

The firm was founded by Alex Bertelli and Clay Banks in 2014 after their experience in the military. Both were former special operations helicopter pilots who were deployed in Afghanistan. Upon returning home, they wanted to find a way to create jobs in the United States. After developing the idea while in the service, they founded the company. Eventually, they became CEOs of the firm.

The company is now able to offer a wide range of products to its customers. For example, the HavenLock Connect model features a key fob, mobile app, and remote unlock capability. Another version is the HavenLock Mech, which is a manual locking system. These locks cost under $70 to manufacture.